See press statement "Based on advice from both its tax consultants and solicitors, IHSB is of the view that the assessments raised by the IRBM are statute barred and erroneous in law. IHSB will appeal against the assessments and undertake legal action against the IRBM, if necessary, to defend its rights." It remains a risk at the moment, hopefully can be cleared soon for the good of all parties. Support seems strong@1.97, that is investors' response to this news.
speakup, TAX FRAUD mean the company actually earn big...... 22mil only equal to 8cents of EPS. If we calculate EPS for just 3Q, it will be (8 x 3) = 24cents. With PE ratio of 8, then the price will be 1.92 which is at currently level. And MFCB is a dividend giving stock, this year already received (5+2) 7cents.
For those company with ACCOUNTING FRAUD, they will make the account statement as good as possible and purposely pay the extra tax to show to public that they are earning good, this will also good for them to apply/cheating loan from bank.
2.28 can treat as fair value for now after book-in the tax penalty of 22mil. so in next year the TP will be 3.00 by estimated quarterly earning of 22mil (EPS= 8cents).
Mega First Corp - Don Sahong Hydropower Project On Track
Author: PublicInvest | Publish date: Mon, 17 Oct 2016, 09:20 AM
We recently had a meeting with Mega First?s management to follow up on the USD500m (RM2bn) Don Sahong hydropower project in Laos. It has been progressing well and management is confident that it will be completed before the deadline. We are now imputing the DCF-based value (WACC: 10%, IRR: 16%-17%) from the hydropower project into our SOP-based valuations, though with a 30% discount as we err on conservatism. Our TP is consequently bumped-up from RM 2.29 to RM3.16. Our Outperform call is maintained.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
klsemarketwatch2013
4 posts
Posted by klsemarketwatch2013 > 2016-06-11 09:21 | Report Abuse
2.00 by end of year is good, as long slow and steady.